Power Minister Adebayo Adelabu revealed that President Bra Tinub is expected to meet with the leaders of the Nigerian Power Generation Company (GENCOS) as part of an urgent effort to deal with the threat of the country’s power supply chain of 4 trillion yuan.
Naija News The report said the move comes after a high-level meeting between Adelabu and Gencos presidents in Abuja on Tuesday, April 29, 2025, as the State Grid could collapse due to liquidity restrictions in the industry.
Gencos warned the continued accumulation of federal debt, which now totaled more than $4 trillion.
In a statement on the Special Adviser for Strategic Communications and Media Relations issued on Sunday, May 4, 2025, Bolaji Tunji said the federal government decided to settle most of the debt immediately, and the remainder would be cleared over the next six months through financial instruments such as schedules, such as financial instruments.
He said this will be presented at a planned meeting between Tinubu and Gencos leadership.
Adrab stressed the federal government’s determination to prevent the collapse of the power sector, describing this situation as a national emergency.
He said “It is necessary to pay a lot of debt in cash. At least, let’s pay a lot of money and then ask for debt instruments in promissory notes to cover the rest of the fees.
“We recognize the urgency of this matter. The government is committed to addressing this debt to stabilize the sector and prevent further crises.”
